3902 Rosecrest Ave · Baltimore, MD 21215

$189,000

3 bd · 2.5 ba · 1,714 sqft · Townhouse public records · 56 Days on market

Built 1949 1,742 sqft lot Est $182k · at est.

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.8/30.0
• DSCR +6.3/10.0
• 1% rule +6.2/10.0
• ARV discount +5.7/15.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Fulton Bank, NA acquired this property via foreclosure. All information is provided in good faith without warranty. The property is being sold AS-IS, WHERE IS, and HOW-IS. All certifications and verifications are the buyer's sole responsibility and expense.

Key facts

• Built 1949
• Listed 56 days

Property features AI

Finance

• Other: Total below-grade area: 724 (includes finished and unfinished below-grade spaces); Above-grade finished area source: Assessor; Below-grade finished and unfinished area sources: Assessor

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water and heating fuel; Municipal trash not provided
• Home design: Semi-detached property; Property condition reported as below average; Fee simple ownership
• Construction: Brick construction; Block and brick/mortar foundation; Asphalt roof; Building winterized; Year built source: Assessor
• Exterior features: Not in a federal flood zone; Tidal water not present; Pets allowed with no pet restrictions; Access to bus stop within one mile and commuter lots within five miles

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Three bedrooms on the first upper level (Master Bedroom, Bedroom 2, Bedroom 3)
• Bathrooms: Two full bathrooms (one on the first upper level, one on the first lower level); One half bathroom on the main level
• Heating & cooling: Forced air heating; Electric-powered cooling (other type)
• Interior features: Not furnished; Connecting stairway to basement; Living Room; Dining Room
• Laundry & utility: Laundry hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $189k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#90 in MD, #3,396 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools D, crime F.
• Baltimore City Public Schools (urban): math 7% / reading 16% proficiency, ranked #24 of 24 in MD (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 351 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,116/mo this rent would consume 49% of the median local household income ($52k/yr) (locally 3644% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $181,684
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3901 Mortimer Ave	0.44mi	3/2.0	1,664 (-3%)	9mo	$151,000	$91	65
5806 Rubin Ave	0.27mi	3/2.5	1,884 (+10%)	8mo	$200,000	$106	64
3601 Clarks Ln #536	0.47mi	2/2.0 (-1)	1,623 (-5%)	1mo	$56,000	$35	62
5803 Jonquil Ave	0.39mi	4/2.0 (+1)	1,816 (+6%)	6mo	$260,000	$143	60
5404 Crismer Ave	0.70mi	3/2.0	1,667 (-3%)	1mo	$239,900	$144	60
6606 Park Heights Ave #701	0.48mi	2/2.0 (-1)	1,604 (-6%)	0mo	$50,000	$31	59
4002 Clarks Ln	0.52mi	3/1.5	1,600 (-7%)	3mo	$220,000	$138	58
3312 Ludgate Rd	0.54mi	3/2.5	1,906 (+11%)	3mo	$155,000	$81	53
6317 Park Heights Ave #404	0.38mi	2/2.0 (-1)	1,510 (-12%)	4mo	$105,000	$70	52
6317 Park Heights Ave Unit T9	0.38mi	2/2.0 (-1)	1,466 (-14%)	7mo	$120,000	$82	45
5410 Narcissus Ave	0.73mi	4/2.5 (+1)	1,860 (+8%)	3mo	$260,000	$140	44
5422 Narcissus Ave	0.72mi	4/3.5 (+1)	1,872 (+9%)	4mo	$254,000	$136	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-17,348
• Equity at exit: $28,181

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,138
• Equity at exit: $16,341

Cash invested: $52,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 12 Strongly Tenant-Friendly
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City Baltimore: 12 Strongly Tenant-Friendly · D+58

Just-cause for tenancies > 1 yr.

Methodology + full state rankings →

ZIP-level market 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,116 high
• Mortgage (P&I): −$991
• Tax from tax record: −$376 /mo · $4,509/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $226

Break-even live

Break-even rent $1,830

Max offer price $189,000

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3709 Fords Ln Baltimore, MD	4.0	3.5	2248	$3,200	$1.42	20d	1	0.23mi
5807 Gist Ave Baltimore, MD	2.0	1.5	2100	$1,395	$0.66	23d	1	0.36mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	43d	1	0.40mi
3809 Clarks Ln Unit 301 Baltimore, MD	2.0	2.0	1057	$1,600	$1.51	23d	1	0.47mi
3505 Clarks Ln Unit D2 Baltimore, MD	3.0	2.0	1750	$2,500	$1.43	43d	1	0.56mi
6317 Pearce Ave Baltimore, MD	2.0	2.0	1140	$1,600	$1.40	43d	1	0.57mi
3607 Labyrinth Rd Baltimore, MD	1.0–3.0	1.0–2.0	925	$2,100	$2.27	19d	5	0.63mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,787	$1.77	1d	25	0.80mi
2900 Taney Rd Apt 1A Baltimore, MD	2.0	2.0	1200	$1,600	$1.33	23d	1	0.82mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	43d	1	0.97mi
6936 Blanche Rd Baltimore, MD	3.0	1.5	1410	$1,800	$1.28	43d	1	1.02mi
3700 Seven Mile Ln Pikesville, MD	1.0–2.0	1.0–2.0	1063	$1,723	$1.62	1d	13	1.13mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	43d	1	1.16mi
7220 Park Heights Ave Pikesville, MD	2.0	2.0	1050	$1,565	$1.49	2d	2	1.17mi
7008 Deerfield Rd Pikesville, MD	3.0	1.5	1664	$2,300	$1.38	43d	1	1.19mi
3807 Bowers Ave Gwynn Oak, MD	3.0	1.5	1152	$2,200	$1.91	43d	1	1.25mi
6310 Greenspring Ave Baltimore, MD	2.0–3.0	1.5–2.0	1080	$1,940	$1.80	3d	6	1.26mi
3109 Northbrook Rd Pikesville, MD	4.0	2.5	1957	$3,200	$1.64	10d	1	1.26mi
5801 Western Run Dr Baltimore, MD	3.0	1.0–2.0	835	$1,979	$2.37	2d	7	1.27mi
7307 Park Heights Ave Pikesville, MD	2.0	2.0–2.5	1251	$2,506	$2.00	1d	5	1.28mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	43d	1	1.29mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	23d	1	1.34mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	43d	1	1.40mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	23d	1	1.45mi
19 Warren Park Dr Pikesville, MD	3.0	1.0–2.0	903	$1,700	$1.88	3d	10	1.47mi

Listing history 12 events

1. 2026-06-19
   status $189,000 Pending 56 DOM
2. 2026-05-01
   historical Active Under Contract
3. 2026-04-23
   price $189,000
4. 2026-03-06
   listed $199,900 Active
5. 2021-11-16
   price $100,000
6. 2021-10-30
   status Pending
7. 2021-10-30
   historical
8. 2021-10-29
   status Active
9. 2021-10-24
   status Pending
10. 2021-10-23
    listed $135,000 Active
11. 2020-05-05
    soldstatus $185,000
12. 2004-05-06
    soldstatus $60,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $4,509 · $376/mo
• Projected year-2 tax: $4,509 · $376/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,395
• − Mortgage interest: −$10,587
• − Property taxes: −$4,509
• − Insurance: −$945
• − Repairs & maintenance: −$2,032
• − Management: −$2,032
• − Depreciation: −$5,498
• Taxable loss: −$207
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $2,765/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Baltimore City Public Schools
• NCES district ID: 2400090
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 16% ▼ -5.00%
• Median HH income: $42,108
• Composite: 10.08/100
• National rank: #9805
• State rank: #24 of 24 in MD

Livability — Baltimore

• Score: 76/100
• State rank: #90
• US rank: #3396

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment C Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baltimore, MD
• County: Baltimore City · 558,601 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 624,249 people
• By 2030: 621,541 · -0.4%
• By 2040: 609,756 · -2.3%
• By 2050: 597,249 · -4.3%
• By 2075: 552,236 · -11.5%
• By 2100: 513,934 · -17.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Baltimore

• 2024 margin: Solid D (+73.0) · D 85.2% · R 12.2% · Other 2.6%
• 2008→2024 swing: -2.5pp toward R · 2008: 75.5pp · 2024: 73.0pp
• All cycles: 2024: D+73.0 2020: D+76.6 2016: D+74.6 2012: D+76.4 2008: D+75.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• Metro: Baltimore-Columbia-Towson, MD
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+215.0% since first listed

11 events — show timeline

• 2026-05-01 Contingent — BRIGHT MLS
• 2026-04-23 Price Changed $189,000 BRIGHT MLS
• 2026-03-06 Listed $199,900 BRIGHT MLS
• 2021-11-16 Price Changed $100,000 BRIGHT MLS
• 2021-10-30 Pending — BRIGHT MLS
• 2021-10-30 Listing Removed — BRIGHT MLS
• 2021-10-29 Relisted — BRIGHT MLS
• 2021-10-24 Pending — BRIGHT MLS
• 2021-10-23 Listed $135,000 BRIGHT MLS
• 2020-05-05 Sold (Public Records) $185,000 Public Records
• 2004-05-06 Sold (Public Records) $60,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $4,509 · +28.2% YoY. Source: county tax records.